Each month in 2022, the Plutus Foundation Impact Series features select articles, podcast episodes, and videos from participating content creators, all around a central theme.
The theme for April is financial literacy. Financial literacy enables people to make good decisions about money for their benefit as well as the benefit of their families. Unfortunately, the level of financial literacy is inconsistent throughout the country.
There is also no universal method for teaching financial literacy, there’s no agreement regarding who holds the responsibility of teaching others about money, and there’s no broad agreement on what topics, philosophies, and data, if anything, should be included in financial literacy education resources and classes.
Recognizing the value of financial literacy, public schools have developed some curricula, but not every state has adopted standards or requires classes for graduate. The financial content creator community often addresses the benefits, problems, and opportunities for financial literacy. The best solutions, advice, and stories from the Plutus Community will help you have an impact on your life.
“Instead of asking why college students should study personal finance, we should consider why we send young adults into the world with a significant student loans (45 million Americans have outstanding student debts) and no understanding of managing their finances.”
“With financial stress at an all-time high and financial literacy at an all-time low, something must give. We need supplemental personal finance education. In this article, you will learn about 20 different financial topics that your government school has failed to teach you.”
“It is financial literacy month and this episode was inspired by a listener’s question. How timely! The truth is that you may have an advanced degree in the most complex topic and not be financially literate. On the flip side, you may not have a University degree, yet be financially savvy.”
“It’s time to change the way we think about money. Financial wellness now seems to be everywhere. So, what is financial wellness? And why should we be thinking about it during financial literacy month?”
“One of the greatest rewards as a parent is watching your kids learn new skills. Whether learning to walk, riding a bike, or reciting the alphabet, watching your children grow and learn is inspiring. However, not all of us feel comfortable or confident about teaching financial literacy to our kids. The good news is you don’t need to be a math whiz or a financial geek to help your kids learn good money skills.”
“When people cannot make sound financial decisions, they tend to have less money throughout their lifetime and are less likely to pass down wealth to their children, increasing the wealth gap in our country.”
“My college piano teacher was a professional musician but he was also an avid investor, and realizing I was a double major with economics in addition to music, he peppered my lessons with musings about the stock market, economy and investing overall.”
“The road to financial literacy starts with a single step, which is understanding the importance of money. Money is rooted in many decisions, so it’s important to have a good grasp of its role in your life. To improve your financial literacy, you must learn how to manage money, how to save and how to invest, and how to make your money work for you. “
“My social media feeds are literally inundated with plugs for various financial coaches, advisors, and organizations. Finding worthwhile information sources is crucial–and you must be able to figure out how to weed out the bad (damaging) from the good (reputable and positive).”